Veru Inc. (NASDAQ:VERU) Sees Significant Growth in Short Interest

Key Points

• Veru Inc. experienced a dramatic increase in short interest of 3,789.7% in July, with total short interest reaching 11,210,000 shares.
• The company's stock is currently valued at $0.49, with a market capitalization of $71.24 million and a price-to-earnings ratio of -2.02.
• Recent institutional activity includes notable increases in holdings by firms such as Weaver Consulting Group and Wells Fargo, indicating growing interest from institutional investors in Veru.

Veru Inc. (NASDAQ:VERU - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 11,210,000 shares, agrowthof3,789.7% from the June 30th total of 288,200 shares. Based on an average daily trading volume, of 2,420,000 shares, the days-to-cover ratio is presently 4.6 days. Based on an average daily trading volume, of 2,420,000 shares, the days-to-cover ratio is presently 4.6 days.

Institutional Trading of Veru

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Weaver Consulting Group grew its position in Veru by 27.4% during the 1st quarter. Weaver Consulting Group now owns 88,838 shares of the company's stock valued at $44,000 after purchasing an additional 19,133 shares during the last quarter. Cetera Investment Advisers grew its position in Veru by 26.1% during the 4th quarter. Cetera Investment Advisers now owns 95,210 shares of the company's stock valued at $62,000 after purchasing an additional 19,724 shares during the last quarter. Wells Fargo & Company MN grew its position in Veru by 37.1% during the 4th quarter. Wells Fargo & Company MN now owns 75,512 shares of the company's stock valued at $49,000 after purchasing an additional 20,430 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Veru by 31.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 85,900 shares of the company's stock valued at $56,000 after purchasing an additional 20,500 shares during the last quarter. Finally, Barclays PLC grew its position in Veru by 11.8% during the 4th quarter. Barclays PLC now owns 206,515 shares of the company's stock valued at $134,000 after purchasing an additional 21,738 shares during the last quarter. 47.16% of the stock is owned by hedge funds and other institutional investors.

Veru Stock Up 1.8%

Shares of NASDAQ:VERU traded up $0.01 during midday trading on Friday, reaching $0.49. The company's stock had a trading volume of 1,009,048 shares, compared to its average volume of 1,343,022. The firm has a 50 day moving average of $0.59 and a 200-day moving average of $0.58. The firm has a market capitalization of $72.34 million, a P/E ratio of -2.06 and a beta of -0.71. Veru has a 12-month low of $0.45 and a 12-month high of $1.42.

Veru (NASDAQ:VERU - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. On average, research analysts predict that Veru will post -0.22 EPS for the current year.

Veru Company Profile

Veru Inc, a late clinical stage biopharmaceutical company, focuses on developing medicines for treatment of metabolic diseases, oncology, and acute respiratory distress syndrome (ARDS). Its marketed products comprise FC2 female condom for the dual protection against unplanned pregnancy and the transmission of sexually transmitted infections.